Submitted by Sebastian (not verified) on September 29, 2008 - 6:45pm.
Wouldn't an all round absolution of debt be an appropriate restart of the economic scenario at this point, especially in the US?
It is a strategy that dates to ancient Hebrew tradition, where it was at one stage applied in 49 year cycles to resolve the accumulative complexities of a credit driven system.
It will immediately enable the broad consumer base to start spending on strength of regular income, implying an upward revival of market forces, working its way up through retail, wholesale and industry, with credit facilities kicking in in due course.
A debt free entity is a creditable entity, which is the fundamental factor about which the credit industry turns.
Adressing the basics directly
Wouldn't an all round absolution of debt be an appropriate restart of the economic scenario at this point, especially in the US?
It is a strategy that dates to ancient Hebrew tradition, where it was at one stage applied in 49 year cycles to resolve the accumulative complexities of a credit driven system.
It will immediately enable the broad consumer base to start spending on strength of regular income, implying an upward revival of market forces, working its way up through retail, wholesale and industry, with credit facilities kicking in in due course.
A debt free entity is a creditable entity, which is the fundamental factor about which the credit industry turns.